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Managing Successful Business Project

   

Added on  2020-10-23

22 Pages4616 Words366 Views
Managing SuccessfulBusiness Project

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Project aim and objectives.....................................................................................................1P2 Project management plan with cost aspects, scope, time, quality and communication risk..2P3 Work breakdown structure and a Gantt chart........................................................................4TASK 2............................................................................................................................................7P4 Small scale research by implementation qualitative and quantitative research.....................7TASK 3............................................................................................................................................8P5 Evaluation research and data using appropriate tools and techniques...................................8P6 Appropriate recommendation as a result of data and research analysis................................8TASK 4............................................................................................................................................8P7 Reflection upon undertakings to attain objectives.................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9

INTRODUCTIONThere are various kinds of business projects that an organisation have to go through and inorder to make sure that those business projects become a success, there is a need thatmanagement of businesses shall implement necessary policies and procedure in the longer run. Inthe Era of Digitisation, it has become necessary for businesses around the world to implementdigital technology tools so that business can grow as well as prosper over period of time.Continental Consulting Ltd. is an SME company which is engaged in the business of providingre-engineering services to other small businesses (Adzic, 2011). The current report will going tohave a detailed discussion on the various digital tools that company can use to enhance thegrowth as well as profitability of the firm in longer run and what type of measures needs to beadopted by the firm to effectively implement the same within the business.TASK 1P1 Project aim and objectivesContinental Consulting Ltd. is a firm which is engaged in the business of research as wellas business consultancy to other firms in United Kingdom. The company has a team of expertswhich provides business re-engineering solutions to other businesses. The company is known forproviding these services at a very reasonable cost to other businesses and thus they are havinghigh level of profitability in the longer run. The company is situated in London as well as GreaterLondon. The company was set up 8 years ago and was growing quite rapidly because of the factthat it came up with efficient technological tools and techniques that has enable it capture ahigher market share at that time (Cheung, Chan and Kajewski, 2012). The company is headed byMario Bindas, who is a capable business person and has taken company forward, since itsinception. The need is to implement latest technological tools within the business for effectivelyleading the firm in a competitive market place. The company will be using various kinds oftechniques for the purpose of implementing Internet of Things as a tool in the company of itsclients for enhancing the transmission of data within the business organisation. The specificTechnique that can be used by company is Internet of Things or IOT which allows effective datatransfer within various departments of the organisation and saves a lot of time and increasesoverall productivity in the longer run.Topic: “The impact of digital technology supporting small business growth andinnovation”1

Innovation is a crucial process in a business environment and thus it becomes even moreimportant to make sure that proper plan is being made by the management that will result indevelopment of the business in the longer run. Digital innovation encourages an association tolearn different components which can impact their tasks, for example, managing businesstransactions, transferring data etc.Aim: “The impact of digital technology especially Internet of things in supporting smallbusiness growth and development. A case study on Continental Consulting Group.” Research ObjectivesTo Determine the impact of digital technology on revenue and profitability growth of thecompany.To implement Internet of Things(IOT) in business operations of small scaleorganizations. To evaluate the role of digital technology on different departments of the businessorganisation. Research QuestionWhat is the impact digital technology on revenue and profitability growth of thecompany.How to implement Internet of Things(IOT) in business operations of small scaleorganizations. What is the role of digital technology on different departments of the businessorganisation. P2 Project management plan with cost aspects, scope, time, quality and communication riskThere is a need to make a proper plan that would contain various data related to cost,scope, time, quality as well as communication risk. These are the normal activities that acompany has to incur while executing a specific project. These aspects have to be consideredeffectively by the project manager so that business growth can be achieved in the longer run. Aeffective Project Management Plan would define the various kinds of roles and responsibilitiesof different people involved in execution of business activities (Hillson, 2017). It is also knownas communication channel through which its stakeholders are able to know about the project.There are various aspects which are needed to undertake under project management plan suchare given as under:2

Scope: The scope of current project is quite high, if the company will able to effectivelyimplement necessary Technological services in the business of their clients then the business ofthe company have a scope to grow its sales and capture a higher market share within thebusiness. It refers to the scope of particular business project and how the same can be effectivelymanaged. The investment that is required to be made in digitising the processes of businessmakes it possible for the company to grow and prosper over period of time. The scope ofimplementing IOT within the small business is quite huge and thus it is essential to make surethat effective policies are being framed by the management of Continental Consulting Ltd so thatbusiness growth can take place of small organisations and they can share the data between theirdepartments very easily. Thus implementation of IOT( Internet of Things) at the workplaces canenhance the smooth functioning of business of their business and better management of theirnecessary data as well as information (Doherty, Ashurst and Peppard, 2012).Cost: The cost factor refers to the amount of cost that is involved in effectively executingthe business project. The aim shall be to carefully design the plan and its structure so that costcan be managed and a reduction in the wastage can be achieved in the longer run. Because of thefact that company is looking to effectively implement IOT in various business premises of itsclients, there are requirement of more skilled staff that will enable better and efficientimplementation of these Internet of things within the business of their clients and suchimplementation requires high level of cost. For the purpose of implementing the project inbusinesses of the organisation, there is a need to make a budget for the same. The Sample of thecost that may incurred for executing the current project of latest technological implementationare explained as follows:Total forecasted budgetParticular 2017-18(£)Implementing technology cost14000Promotional expense6500Advertisement expense4500Catalogues 1450Training charges6750Total cost332003

Time: It is also important from the point of view of businesses that the technologicaladvancement through various tools of internet is implemented within various departments ofclients. The project manager are required to set time frame for each project activity so that thechances of time lag in action are quite low (Drucker, 2012). Delay in performing activitymaximises the cost of company due to which Continental Consulting Ltd. is required to followcritical path approach which gives reliable information in order to guide employees to perform inright direction.Quality: The quality that are there in the products as well as services of the company canplay a vital role in deciding the fate of business. If the services offered by company are quiteeffective enough then it can lead to higher competitive position in longer run. ContinentalConsulting Ltd. is involved in the business of providing services related to consulting small andmedium business organisations to implement various digital tools as well as technology in theirbusiness processes so that, they can achieve higher growth and their cost can be reduced to anextent. It will be beneficial in the longer run for the SME's as they will be able to get morebusiness and at the same their data can be managed by expert consulting advices of ContinentalConsulting Ltd. (Jeston, 2014).Risk: It is also a important factor that a business manager shall consider beforeimplementing or executing a business plan. Usually, there are plenty of risk that is involved inimplementing a business plan. A business manager shall keep in mind all of these things in orderto make a good forecast and to make better planning for the growth of business. Thus,Continental Consulting Ltd. and its manager shall make plans after considering as well asanalysing the risk involved in the same Some of the example of Risk involved are, Lack of skillsas well as knowledge, need of training and development for employees if they have to bemanaged in an efficient way etc. only if they will be trained as well as developed enough theywill be able to contribute in the execution of the project going forward (Duffield. and Whitty,2015).P3 Work breakdown structure and a Gantt chartA work breakdown Structure basically entails how the work will be performed and whattime it will take to effectively execute the work over period of time. This structure incorporatesdifferent knowledge which are required to be done to direct the exploration. Here, the venturegroup of Continental Consulting Ltd. has made with separate bifurcation of projects with a4

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